{"id":1130,"date":"2010-03-08T20:47:19","date_gmt":"2010-03-09T02:47:19","guid":{"rendered":"https:\/\/www.topmexicorealestate.com\/temp-blog\/?p=1130"},"modified":"2021-10-27T17:01:30","modified_gmt":"2021-10-27T22:01:30","slug":"what-is-your-real-estate-forecast-for-puerto-vallarta-in-2010","status":"publish","type":"post","link":"https:\/\/www.topmexicorealestate.com\/blog\/2010\/03\/what-is-your-real-estate-forecast-for-puerto-vallarta-in-2010\/","title":{"rendered":"What is your Real Estate forecast for Puerto Vallarta in 2010?"},"content":{"rendered":"

We have seen a dramatic increase<\/strong> in the Puerto Vallarta real estate<\/a> traffic and interest over the last few weeks.\u00c2\u00a0 One well established office in town reported that they have more transactions in process right now than they had for the entire summer.\u00c2\u00a0 Comments from fellow agents range from \u00e2\u20ac\u0153better than earlier in the year\u00e2\u20ac\u009d to \u00e2\u20ac\u0153really busy\u00e2\u20ac\u009d, to \u00e2\u20ac\u0153going crazy!\u00e2\u20ac\u009d\u00c2\u00a0 Many observers have termed the previous year a \u00e2\u20ac\u0153buyers market\u00e2\u20ac\u009d in most of the Mexico real estate<\/a> region.<\/p>\n

\"\"<\/p>\n

I do not subscribe to this assessment; I believe it should more correctly have been considered a \u00e2\u20ac\u0153stagnant market<\/strong>\u00e2\u20ac\u009d.\u00c2\u00a0 This is because many potential buyers were scared off by worldwide economic turmoil and over hyped media reports of drug violence and swine flu.\u00c2\u00a0 The buyers that were here made extremely low offers that sellers were not willing to accept.\u00c2\u00a0 Recently, it appears that buyers have begun to realize that the Real Estate market in Puerto Vallarta<\/a> is strong, stable and offering excellent bargains<\/strong> for retirement and mid to long term investing.\u00c2\u00a0 The vast majority of sellers here paid cash for their property and are not in a panic to sell.\u00c2\u00a0 \u00c2\u00a0\u00c2\u00a0There was never \u00e2\u20ac\u0153sub-prime lending\u00e2\u20ac\u009d here in PV and consequently there is no mortgage crisis<\/strong> or foreclosure market here.\u00c2\u00a0 With $USD financing now readily available (typically with a down payment of 25-30%) a vast new market is poised to emerge.\u00c2\u00a0\u00c2\u00a0 The world economic turmoil has undoubtedly trimmed the nest eggs of most new buyers entering the market.\u00c2\u00a0 Therefore, I see a \u00e2\u20ac\u0153return to affordability<\/strong>\u00e2\u20ac\u009d as one of the primary drivers of the market next year.\u00c2\u00a0 Properties priced from $150k to $300k are right in the sweet spot for most buyers and this market will be active.\u00c2\u00a0 The $300k to $600k market has also seen a lot of increased activity, especially with $USD financing now available. \u00c2\u00a0Luxury Puerto Vallarta properties<\/a> priced over $1 million USD have never been a large percentage of the overall market; however we are seeing more showings and interest in these properties as well and expect numerous sales of well priced properties in this market as well.\u00c2\u00a0 In summary, I see a fairly strong market recovery over the next year.\u00c2\u00a0 It will not be a straight line upwards, or be the frenzy that epitomized 2006 and 2007, but it will be strong and it will be stable.\u00c2\u00a0 I believe that the market hit bottom<\/strong> in late spring\/summer 2009 and anyone who purchased a property at this time should be commended for their guts and market timing.\u00c2\u00a0 This is not to say that there are still not good deals available in the market.\u00c2\u00a0 There are.\u00c2\u00a0 And there are sellers who still willing to negotiate on terms and price.\u00c2\u00a0 However I definitely see the tide turning, so if you are buyer and just found your \u00e2\u20ac\u0153perfect place\u00e2\u20ac\u009d, you better make your offer today, because the property may not be available tomorrow.\u00c2\u00a0 We will check back in May 2010 and see how clear my \u00e2\u20ac\u0153crystal ball\u00e2\u20ac\u009d was.<\/p>\n

Do you have a question about the Puerto Vallarta Real Estate market? Just ask!<\/strong>
\nMichael Green moved to Puerto Vallarta to take advantage of the unsurpassed lifestyle PV offers. Today, with over 12 years of experience, Mr. Green is one of the most recognized brokers in Vallarta. TOP Mexico Real Estate \u00e2\u20ac\u0153Mexico\u00e2\u20ac\u2122s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely<\/strong><\/em><\/span><\/span>!\u00e2\u20ac\u009d<\/strong><\/em><\/span><\/span><\/span><\/p>\n\n\n\n
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